Ebang International (NASDAQ:EBON) Shares Up 6.2% – Time to Buy?

Ebang International Holdings Inc. (NASDAQ:EBON) shot up 6.2% on Monday . The stock traded as high as $2.40 and last traded at $2.5490. 1,135 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 4,536 shares. The stock had previously closed at $2.40.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ebang International in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Ebang International Stock Performance

The business’s 50-day moving average is $2.91 and its two-hundred day moving average is $3.69.

Institutional Investors Weigh In On Ebang International

A hedge fund recently raised its stake in Ebang International stock. Susquehanna International Group LLP lifted its stake in Ebang International Holdings Inc. (NASDAQ:EBON) by 18.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,474 shares of the company’s stock after purchasing an additional 3,733 shares during the quarter. Susquehanna International Group LLP’s holdings in Ebang International were worth $108,000 at the end of the most recent reporting period. 1.15% of the stock is currently owned by hedge funds and other institutional investors.

About Ebang International

Ebang International Holdings Inc is a China-based technology company that specializes in the design, development and sale of high-performance application-specific integrated circuit (ASIC) miner machines for cryptocurrency mining. In addition to its core hardware business, the company offers blockchain computing services and related technical support, enabling mining operations to optimize efficiency and manage large-scale deployments.

Founded in 2010 and headquartered in Hangzhou, Ebang has established research and development centers in major Chinese cities, including Beijing and Shanghai.